Conservative Home | December 2024
“No one is questioning that we need to see the taxes rise to really help fund our public services.”
These were the words Rain Newton-Smith, Director General of the Confederation of British Industry (CBI), used about Labour’s anti-business Budget. Farmers have, both through the National Farmers Union and individually, taken the fight to Labour head-on in response to inheritance changes, attempting to protect the land that generations of their families have toiled on, in comparison the response from business appears muted.
With many of the nation’s bigger businesses wooed by Labour before the last general election, seemingly captivated by the Party’s pitch that they will be pro-business and pro-growth, entrepreneurs have been left without a home or an effective advocate. While Labour’s plans may not hurt big businesses too much, the effect on our nation’s micro businesses or side hustles could well be catastrophic.
Through a range of excessive taxes, especially in the first years of a new venture, inability to raise finance driven by excessive regulations on banks, and the stifling bureaucracy of having to deal with HMRC or local authorities, entrepreneurs are impeded at every step. Our small businesses are in need of a champion to be their voice when Labour’s plans harm their ability to expand and innovate.
The Conservatives have the opportunity to be that voice, but that will only be feasible with new ideas demonstrating that we understand what Government can do – and more importantly what it cannot – to re-energise our entrepreneurial and high-growth sector. Britain needs a thriving, dynamic start-up and scale-up sector and the Conservatives need to show they understand how to deliver that.
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